2 Jul 2015
USD/JPY: buy the dips towards 122.00 – Westpac
FXStreet (Edinburgh) - Strategist Robert Rennie at Westpac recommends buying spot in the vicinity of the 122.00 handle.
Key Quotes
“We have maintained a USD/JPY buy dips bias for a number of weeks but have described this as a ‘buy with tight stop’.
“Price action suggests that with the results of the Greek outcome on Monday at best 50/50 and huge binary implications, now is not the time to be sticking our necks out”.
“We continue buying dips towards recent lows i.e. 122.00/50 with stops just beneath”.
Key Quotes
“We have maintained a USD/JPY buy dips bias for a number of weeks but have described this as a ‘buy with tight stop’.
“Price action suggests that with the results of the Greek outcome on Monday at best 50/50 and huge binary implications, now is not the time to be sticking our necks out”.
“We continue buying dips towards recent lows i.e. 122.00/50 with stops just beneath”.